Fed's Jefferson (voter) says firms are waiting on policy and geopolitical outcomes before making new hiring plans; labour market is "less dynamic" than it was

• On labour supply, immigration policy has slowed overall growth in the workforce.

Fed's Jefferson's remarks indicate a more cautious approach from firms regarding hiring, linked to uncertainty in both policy directions and geopolitical events. This suggests a potential cooling in the labour market which could influence the Fed's decision-making as they assess the overall economic landscape and implications for monetary policy going forward.